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6 days ago · The exchange rate with the US dollar has floated in the C$1.34-C$1.38 range for most of 2024, only recently surpassing the top end following the Bank’s half-point rate cut. For that reason, Reid cautions that there’s now an expectation that the Canadian dollar might see heightened volatility over the next year.
6 days ago · There’s also an increasing election trade betting on a Trump win that’s also putting pressure on the Canadian dollar, he said. The potential for trade wars and downward oil price pressure if he does win is also helping boost the U.S. dollar. “The outlook in the near term is definitely grim for the Canadian dollar,” said Madhavji.
Sep 16, 2022 · That's the lowest level for the currency since October 2020. The loonie was off by about half a cent from Thursday's close, just the latest down day in a stretch of them for Canada's currency. The ...
Jul 24, 2024 · TD has forecast a year-end target for the Bank of Canada rate to be at 4.25 per cent by year end, but the dovish tone from the bank leaves room for it to go lower still. Financial markets have ...
4 days ago · The Canadian dollar has dipped to levels not seen since 2020, and this will likely significantly impact your everyday expenses. This week, the loonie sunk below 72 cents US for the first time in over four years, closing Tuesday at 71.89 cents US after sinking just under 72 cents on Monday.
Oct 22, 2021 · In the 6-week period when the loonie dipped this last summer, the Canadian Crude Index reached a new high of $60. Since then, it has strengthened to $68. “Canada posted a current account surplus for the second consecutive quarter in Q2 2021,” reaching $3.6 billion during the quarter, writes Stéfane Marion, chief economist and strategist at ...
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Jun 6, 2024 · That said, there is also limited downside in the loonie: it’s stuck in a low-for-long funk. Investors have priced in the rate divergence and inflation is low and stabilizing. That downside protection is actually very important for the Bank of Canada, because it means that interest rate cuts won’t trigger a big fall in the currency that, in ...
